Determine if sole proprietorship, partnership, or corporation. Select all that is applicable between the 3 forms of business. • difficult to liquidate or terminate • separate management from ownership
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- 3. Explain the concept of the following Business Ownerships: Sole Proprietorship, Partnership, Corporation, and Cooperation. Describe the advantages and disadvantages of each business.Which type of business organization is owned by only one owner? a. Corporation b. Partnership c. Sole proprietorship d. Items a, b, and c are all correcIdentify the business entity form that does not provide limited liability for its owners. a. limited liability company b. Subchapter S corporation c. sole proprietorship d. limited partnership
- Which of the following is NOT a form of ownership that the entrepreneur should consider? a. Sole proprietorship b. Limited partnership c. Corporation d. General partnershipWhich forms of business organization, ownership is readily transferable? a. Corporation b. Sole Proprietorship c. Limited Liability Company d. PartnershipMultiple choice: All of the following are forms of business organizations except: A. proprietorship B. partnership C. corporation D. governmental unit 2. An entity where ownership is divided into shares of stock is a: A. proprietorship B. trade agreement C. corporation D. mutual agency
- A business created as a distinct legal entity composed of one or more individuals or entities is known as a: Select one: a. None of the given answers is correct. b. Sole proprietorship c. Owner-managed entity d. PartnershipQ: Compare the characteristics of organizational and legal forms of enterprises: Criteria The organizational and legal form Individual entrepreneur Economic partnership (LLC) Economic society (JSC) Simplicity of the creation Control over the activities Liability of the owners Investment Liquidity* Period of existenceExplain common forms of business ownership—soleproprietorship, partnership, and corporation—and demonstrate how they differ in terms of their pre-sentation in the statement of financial position.
- Determine whether each describes a sole proprietorship, a general partnership, or a corporation. Note that a characteristic may apply to more than one type of business structure. : View the image for the table to help answer.1. Limited Partners are involved in the day-to-day management of thebusiness. T/F 2. A Corporation can continue in existence if the owner leaves thecompany. T/FQuestion based on the picture attached (b) Explain any three (3) costs and benefits of partnerships/proprietorships as compared to corporation. Give your opinion which type of organizational structure is preferable.